On the weekly timeframe BTC is at a local support.
If the price breaks and closes below the suport level, we might start a move to the downside.
Lets wait for the weekly candle to close. NFA
Solana just broke a major structure level on the daily timeframe. Looking at previous data, a strong demand zone that might serve as magnet was spotted on the $19 area. For longer term perspective sol might still drop lower to the demand after filling all imbalances upward.
On the other hand, on a shorter perspective. We could still trade upwards as we are...
If you look at previous bitcoin price roughly on the 21st of july BTC left a demand zone and spiked massively to the upside.
If we notice price has not yet tapped that zone and i feel that is the reason why the alpha cryptocurrency has refused to cross the 42 to 45k resistance area.
In my opinion i think BTC will still dip further more into the demand zone before...
On sand/usdt daily timeframe we can see a very oviouis biullish flag forming on sand.
The pair is also trading at a strong demand zone, for long term perspective we need sand to break above the previous daily resistance before taking off properly.
Sand could still trade lower to get to the ground level support area.
NFA
Bitcoin is in recovery phase after the crash two days ago. The pair is now trading at the lower bound of an ascending wedge.
Bitcoin could trade higher, immediate resistance is at the middle of the wedge channel which is also the top of the orange falling trendline.
For BTC to remain bullish price must break the orange trendline and maintain it to trade...
Bitcoin in the past few days has been trading in the downwards direction. We even saw a 38k touch yesterday which it sharply got rejected from. Bitcoin in my own opinion is going to head lower to take out liquidity at the 37500 area, from there we might see a massive bull run kick run.
Otherwise if bitcoin can hold the 4ok support area we might see a rally to...
Luna has recent spikes in last days and is now at resistance zone. We are expecting a short after seeing the bearish engulfing candle formed. Also luna is at the top of a trendline resistance, which is also adding another confluence. Target is 70.52 the next minor support
